Search Results for: Consumer Forum

Consumers want “No Stretch for Builders” in Delayed Projects

In protest against builders under the Real Estate Regulatory Authority (RERA) consumers established their own forum “Fight for RERA” comprising of homebuyers. The forum touts the RERA Authority not to grant stretch to builders who have already delayed their projects. The forum feels that any further stretch will violate the said RERA Rules. It was … Continue reading “Consumers want “No Stretch for Builders” in Delayed Projects”

Is your house stuck in a stalled real estate project? How did homebuyers take on builders to get their houses?

Some of the legal remedies available for the homebuyers of stalled real estate projects against builders in case of disputes or grievances. Homebuyers can protect themselves from builders in India and ensure that they get their dream home without any hassles.

An alien concept to the IBC regime is reverse CIRP

Despite the fact that such relief should not have existed, the NCLAT instead attempted an “experiment” to adopt the strange idea of Reverse CIRP, which has no precedent in the Code.

Limitation is continuous in cases of Homebuyers

If a homebuyer failed to file his/her case then will his/her case will not be taken and his grievances won’t be solved? The answer to this question is “NO”! The reason here is that the limitation period in the case of a homebuyer is continuous in view of the non-handing over of the possession of the unit.

Allottees/Buyers must form group or association to counter the violations committed by the builders

All allottees approaching before these forums secure reliefs for them but the execution force is a bit low therefore they feel remediless even after winning a long legal battle. A better option which has come forward is where allottees come forward to form a group and then approach these forums.

One-sided terms in favor of Builder are non-enforceable: Supreme Court

The Supreme Court has finally settled the law and has provided relief to all the allottees which were being regularly harassed by the builders under the shed of one sided clauses in the Apartment Buyer’s Agreements.

Petition can be admitted against maintenance company of developer: NCLAT

Section 5(8)(f) Explanation makes it clear that any amount raised from an allottee under a real estate project shall be deemed to be an amount having the commercial effect of a borrowing.

How to choose between RERA and NCDRC?

The Hon’ble Supreme Court’s decision is a watershed moment for homebuyers and allottees. A number of findings in the current judgment support this conclusion, including parallel remedies under RERA and the Consumer Protection Act.

How to Execute RERA Order through NCLT under IBC

The RERA Act at present is still a toothless tiger due to lack of execution process of RERA orders. The reliefs under RERA at the moment rest only in paper.

Are Builders more threaten by NCLT proceedings than RERA?

A growing number of Builders, Developers, Promoters and stakeholders in the Real Estate Industry are backing RERA to be the first applicable redressal mechanism to homebuyers.

Remedies Available for Homebuyers in Delayed Projects

As a developing country, India had huge prospects for growth in the real estate sector, seeing this many people invested in the sector in good faith.

Filing claims after the lapse of due date

Real estate (regulation & development) act, 2016 (RERA) came as a sigh of relief for the homebuyers (Financial creditors), providing them with adequate relief unlike available conventional remedies under civil and consumer laws